In a strategic move to expand its portfolio and establish a stronger presence in the lifestyle hotel sector, Hyatt announced its acquisition of Standard International, the parent company of The Standard and Bunkhouse Hotels brands. The deal, valued at a base purchase price of $150 million with an additional $185 million to be paid over time as more hotels enter the portfolio, is set to close later this year.
Upon completion of the transaction, Hyatt will gain access to management, franchise, and licensing contracts for 21 hotels, including well-known properties such as The Standard London and The Standard High Line in New York. Furthermore, the establishment of a lifestyle group headquartered in New York, under the leadership of Amar Lalvani, will allow Hyatt to leverage the creative and innovative expertise of Standard International in curating unique guest experiences.
With over 30 projects in the pipeline, Standard International is positioned for significant growth and expansion in the upcoming years. The addition of new properties such as The Standard Pattaya Na Jomtien and The StandardX Bangkok Phra Arthit in Thailand, as well as two Bunkhouse hotels in Houston, reflects the company’s commitment to diversifying its offerings and catering to a broader range of travelers.
In acquiring Standard International, Hyatt not only gains access to established lifestyle brands like The Standard and Bunkhouse, but also expands its portfolio to include newer concepts such as Peri Hotels and The StandardX. The introduction of The Manner, a luxury concept set to debut in New York’s SoHo neighborhood, further demonstrates the company’s efforts to innovate and appeal to evolving consumer preferences.
Overall, the acquisition of Standard International by Hyatt represents a strategic move that aligns with the company’s expansion goals and commitment to offering a diverse range of hospitality experiences. By leveraging the strengths and unique positioning of Standard International’s brands, Hyatt is poised to capture a larger share of the lifestyle hotel market and solidify its presence as a leader in the industry.